Fascinating stuff: Of all the lousy bourses, the SPX (White line below) is the least lousiest!
Here’s an excerpt:
"U.S. stocks pulled ahead of Brazil, Russia, India and China this week for the first time in 2008, spurred by the Federal Reserve’s efforts to cut borrowing costs even as the biggest developing countries are raising theirs.
The CHART OF THE DAY shows the S&P 500’s 12 percent loss this year leaves it ahead of Brazil’s Bovespa Index, whose drop through last week had been the smallest of the five countries. The U.S. equity benchmark claimed the lead after banks rallied 22 percent and the steepest monthly retreat in commodity prices sent the Bovespa into a bear market.
The Bombay Stock Exchange’s Sensitive Index dropped 25 percent in 2008 through yesterday, China’s CSI 300 Index decreased 54 percent and Russia’s benchmark RTS Index fell 21 percent. Brazil’s Bovespa has lost 15 percent this year."
Hat tip Paul K!
Money on the Move’ to U.S. Stocks: Chart of the Day
Bloomberg, Aug. 13 2008